Hong Kong’s de facto central bank has cut its base interest rate for the third time in three months, lowering the cost of funding to help reboot businesses and ease the burden of mortgage borrowers.
The city’s base rate was reduced by a quarter of a percentage point to 4 per cent, according to the Hong Kong Monetary Authority (HKMA) on Thursday. Hours earlier, the US Federal Reserve cut its target rate by the same margin to a range of 3.5 per cent to 3.75 per cent, following the final meeting of…
